Rio Tinto select Forest Grove Technology to help improve their Project Controls and Reporting Capabilities

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One of Western Australia’s leaders in data warehousing and business intelligence, Forest Grove Technology has been appointed by Rio Tinto to deliver a Management Information (MI) Reporting System for the Asset Management and Engineering Service division.

Rio Tinto went to tender in early 2018 and Forest Grove were selected soon after with this project representing the first use case for the mining magnate to utilize market-leading Advanced Analytics software KNIME.

The Business Intelligence as a Service (BI-as-a-S) project will initially focus on improved reporting in Cost Control and Earned Value Management, Finance, Risk Management and Planning with expansion plans to a number of other management divisions.  

By gathering and analysing all the data available to them across their projects, the Project Controls team can leverage this to assist them in effective management and decision making, lowering risk and influencing both time and cost outcomes of a project.  

KNIME, which is at the core of this solution, leverages Rio Tinto’s existing Redshift in-cloud data warehouse, and provides the ability to prep, blend and analyse their entire data set within a platform that is workflow driven and easy to use. Learn more about KNIME

This takes a typical Data Warehouse project from months and even years, down to weeks and ushers in an agile analytical process into the organisation.

Rio Tinto were impressed with the calibre, flexibility and scalability of the solution and have indicated that this along with local support were key factors that led to them selecting Forest Grove Technology.

Whilst a relatively newer player in the Advanced Analytics arena, KNIME has been crowned market leaders in the areas of ‘Ease of Use’ and ‘Visionaries’ in the 2018 Gartner Magic Quadrant Review for the fifth year in a row.

Forest Grove’s BI-AS-A-S solution draws from a range of data sources including Oracle, SQL and Excel, and transforms the data through KNIME workflows in preparation for the MI Reporting.  

KNIME’s data cleansing capabilities allow previously incompatible data to be consolidated and transformed for insight gathering and complex reporting.  As an open source product, KNIME brings a proven level of scalability and customization that alternative advanced analytics platforms struggle to achieve.

Forest Grove Technology is one of Australia’s leading suppliers of management reporting, budgeting/forecasting software, business intelligence (BI) and Advanced Analytic solutions.  With over 100 customers throughout Australia and New Zealand, Forest Grove Technology enables organisations to make better decisions with better information.

 
 

Leveraging Artificial Intelligence in the Office of Finance

 

Many of us have personal digital assistants in our homes that can play our favourite song or order groceries with a voice command. And as much as robust technologies make our personal lives run a bit more smoothly, there is similar potential for Artificial Intelligence (AI), Natural Language queries, and Machine Learning to transform the Office of Finance.

Organisations are making strides in understanding data around market trends, customer sentiment, and engagement, but they aren’t making the connection back to the bottom line. The next steps involve automated Machine Learning and data management to make the process more seamless and robust.

A majority (62%) of Finance Executives report that they will make significant investments in AI over the next three years, according to PwC’s Digital IQ research. Gains from Robotics Process Automation (RPA) and basic AI will provide the building blocks for finance to later achieve more dramatic gains with advanced AI, setting the stage to go beyond using AI and related technologies for only routine transactions.

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